Personal Financial Literacy

________ is trading money for goods and services.

• spending

• sharing

• saving

• expences

________ are amounts of money spent.

• saving

• sharing

• spending

• expenses

putting money aside from current income to buy something in the future

• spending

• saving

• sharing

• expences

Expenses that occur on a regular basis.

• variable expenses

• fixed expenses

• expense

• financial institution

Expenses that do not occur on a regular basis

• fixed expenses

• variable expenses

• expences

• financial institution

When money is put into an account, it is called

• withdrawal

• balance

• profit

• deposit

When money is taken out of an account, it is called

• withdrawal

• deposit

• profit

• balance

The amount of money you have in your bank account is the

• withdrawal

• deposit

• balance

• profit

The difference between expenses and receipts. The money you make after paying for your expenses.

• withdrawal

• balance

• receipts

• profit

What is the primary service of a bank?

• Banks offer checking and savings accounts to their customers.

• Banks help customers decide which expenses to pay.

• Banks help customers to meet their neighbors.

• Banks sell stamps and deliver mail.